The day I thought would never arrive finally has arrived, that being March the 31st 2021, and today is the day when the Bounce Back Loan Scheme finally comes to an end.
I have shared the journey many of you have gone on trying to get a Bounce Back Loan since the scheme launched back on the 4th of May 2020, and it has been one hell of a journey for many of you.
In those forty eight weeks there has been highs and lows, many of you successfully got a BBL in a hassle free fashion, many of you had to jump through all manner of flaming hoops to get one, and sadly no matter how hard some of you tried the scheme failed you, and you never got one.
Even in the dying days of the scheme I received word from some of you that you had managed to finally secure a BBL with the likes of Metro Bank, Starling Bank and even yesterday Conister were still sending out emails to people asking them if they were “still interested in applying for a Bounce Back Loan”.
However, at midnight tonight no more applications can be put in and the curtain falls on that scheme.
It was the case, before Rishi extended the scheme that lenders did have up to a month or so to process any BBL’s they still had in their systems, so one would imagine if you do have an application in before the deadline tonight the lender should process it and not simply decline you, that remains to be seen of course.
Moving Forward
There will now be a few days of “peace and tranquillity” until the Recovery Loan Scheme is rolled out, I will be monitoring that little beauty, so please do feel free to continue to furnish me with your own personal experiences of that new scheme when it does go live, others will want to know the ins and outs of applying and if that scheme is as “bad” (compared to the BBL scheme) as it appears.
Repayments and the BBL Pay as You Grow options will become due and available soon, and once they do, I will report on those aspects of the scheme too.
I will also be keeping a very, very close eye on the default aspect of the BBL scheme too, as some of you will have no other option to default and looking at how most lenders handled the BBL scheme when it was live, I will not stand by and remain quiet if they are up to no good or bullying, harassing or causing you a nuisance if you do have to default.
I am also continuing to update this website daily with ongoing information about both the BBL scheme and the new Recovery Scheme, and if you want to access my new “Premium Content” for which there is a few quid to pay to access that content each wheel or month then click on the Join Button, that content can be found on the main index page by the way.
If not, that is not a problem as there are around 1000 pages of free content on the website you are more than welcome to peruse.
A Look Back at the Last Ten Months
Each week on my Timeline Videos I have been taking a look at some of the messages regarding BBL complaints, problems, and success stories I received, below you will find the final video which you are, as always, more than welcome to watch.
It has been a pleasure chatting to you all over the days, weeks, and months, I have laughed with you, cried with you and even banged my head against the wall with you.
All the Very Best for the future, and I truly hope you all Bounce Back.